Pepper closed the session with minimal loss as traders booked profits at higher levels although tight supply of the commodity is likely to limit downside.
(prHWY.com) February 1, 2013 - Indore, India -- MARKET WRAP FOR AGRICOMMODITY
* Turmeric extends recovery due to buying at lower levels.
* Soybean remains positive on the back of overseas demand.
* Pepper witnesses profit booking at higher levels closing with minimal loss.
Pepper closed the session with minimal loss as traders booked profits at higher levels although tight supply of the commodity is likely to limit downside. Mentha Oil rallied more than 3% on contract expiry. Cardamom loses more than a percent on fresh crop arrivals in the domestic markets. Castor Seed remains volatile closing in red territory.
TECHNICAL VIEW
PEPPER (February) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1-39350, R2- 40125 | S1- 38200 S2-37410
RM SEED (April ) VIEW
Trend: Consolidate | Strategy: Sell on high
R1- 3500, R2-3570| S1-3400 ,S2- 3330
SOYABEAN (February) VIEW
Trend: Consolidate | Strategy: Sell on high
R1-3335 , R2-3400 | S1- 3240, S2-3170
TURMERIC (April) VIEW
Trend: Bullish | Strategy:Buy on dips
R1- 6445, R2-6570 | S1-6250 S2-6125
DHANIYA (April ) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1-6975, R2-7110, S1-6765, S2-6630
JEERA (March) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1-13765 ,R2-14035 S1-13355 , S2-13085
MENTHA OIL (February) VIEW
Trend: Consolidate | Strategy: Buy on dips
R1- 1326, R2-1352 | S1-1286 , S2- 1260
CARDAMOM (February) VIEW
Trend: Consolidate | Strategy: Buy on Dips
R1-1048 , R2-1070 | S1-1018, S2-997
CASTOR SEED (February) VIEW
Trend: Bullish | Strategy: =Buy on dips
R1-3545, R2-3615| S1-3440, S2- 3370
CHANA (April ) VIEW
Trend: Consolidate | Strategy: Sell on high
R1-3590, R2-3660| S1- 3502, S2-3430
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